Picture courtesy www.cnbc.com
New Delhi: The Goods and Services Tax (GST) Council is likely to discuss bringing petrol, diesel and other petroleum products under its ambit during a meeting in Lucknow on Friday.
If the proposal is accepted, it will lead to a drastic reduction in central and state levies on petrol and diesel and bring down consumer prices of automobile fuels substantially.
According to a media report, this may bring petrol price to Rs 75 per litre and diesel to Rs 68 per litre.
The matter will be tabled in the GST Council meeting for discussion and decision on Friday in line with a directive from the Kerala High Court.
In June, the court had issued directions to decide on including petrol and diesel under the ambit of GST, according to a report in Livehindustan.
At present, petrol is sold at Rs 101.19 per litre and diesel at Rs 88.62 in Delhi.
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